We use panel data for 50 states during the 1960--2000 period to examine the deterrent effect of capital punishment, using the moratorium as a "judicial experiment." We compare murder rates immediately before and after changes in states' death penalty laws, drawing on cross-state variations in the timing and duration of the moratorium. The regression analysis supplementing the before-and-after comparisons disentangles the effect of lifting the moratorium on murder from the effect of actual executions on murder. Results suggest that capital punishment has a deterrent effect, and that executions have a distinct effect which compounds the deterrent effect of merely (re)instating the death penalty. The finding is robust across 96 regression models. (JEL C1, K1) Copyright 2006, Oxford University Press.
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Article provided by Oxford University Press in its journal Economic Inquiry.
Volume (Year): 44 (2006) Issue (Month): 3 (July) Pages: 512-535 Download reference. The following formats are available: HTML
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Find related papers by JEL classification: C1 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: General K1 - Law and Economics - - Basic Areas of Law
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